Is Nokia (NOK) Eyeing Groupon, Facebook with NAVTEQ Consolidation?
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Nokia (NYSE: NOK) is trading rather well Wednesday morning following a report from the company it will be integrating the NAVTEQ business with it's social location services operations in a new Location & Commerce arm.
Nokia comments: "The Location & Commerce business will develop a new class of integrated social location products and services for consumers, as well as platform services and local commerce services for device manufacturers, application developers, internet services providers, merchants, and advertisers."
The unit will be headed by Michael Halbherr, who has been with Nokia since 2006, most recently leading the product unit in Nokia's Services business. Larry Kaplan, who has served as CEO for NAVTEQ, will continue to support the transition work for the new Location & Commerce business through year-end.
From the sounds of it, Nokia is looking to combine Foursquare and/or Facebook Places, with the likes of Groupon. This could be a preliminary assessment, but from the description, that's what it sounds like.
Nokia is trading nearly 1 percent better in the early session.
Nokia comments: "The Location & Commerce business will develop a new class of integrated social location products and services for consumers, as well as platform services and local commerce services for device manufacturers, application developers, internet services providers, merchants, and advertisers."
The unit will be headed by Michael Halbherr, who has been with Nokia since 2006, most recently leading the product unit in Nokia's Services business. Larry Kaplan, who has served as CEO for NAVTEQ, will continue to support the transition work for the new Location & Commerce business through year-end.
From the sounds of it, Nokia is looking to combine Foursquare and/or Facebook Places, with the likes of Groupon. This could be a preliminary assessment, but from the description, that's what it sounds like.
Nokia is trading nearly 1 percent better in the early session.
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